June 15, 2017 – Tampa, Florida – Global connected cars market is expected to reach USD 46.0 billion by 2024, according to a new research study published by Ameri Research.Connected cars assist connectivity on wheels providing convenience,comfort, safety, performanceas well as security combined with prevailing network technology.

Today’s consumers are increasingly looking for smart digital solutions to stay connected throughout their travel period. The rapid increase in the use of smartphone features, such as Bluetooth enabled connectivity, call receiving, navigation, voice mail, music on demand, and other entertainment systems are amongst the key factors driving the connected cars market growth.

The industry is witnessing an upcoming trend of escalating demand for advanced infotainment systems and a high-speed connection to the wireless network. Additionally, rising consumer demand, increased dependency on technology, the need for constant connectivity and the growing number of tech-savvy people collectively drive the global connected cars market growth significantly over the next few years.

3G technology segment captured majority market share in 2016 and is anticipated to witness substantial growth over the forecast period attributing to the growing penetration of high-speed internet coupled with proliferation of smartphones and tablets

Embedded and integrated connectivity solution segment collectively accounted for more than 70% of the overall revenue in 2016 which is attributed to the raising proliferation of embedded in-vehicle connectivity paired with growing smartphone integration platform

Telematics emerged as the dominant application segment in 2016 and is also expected to witness significant growth over the next few years majorly on account of mounting demand for monitoring car- and traffic-related data

Europe emerged as the prevailing regional market in 2016 and accounted for more than 30% of the overall revenue in the same year. Consumers in Europe are more adaptive towardsinnovative technologies and the alteration in regulation, primarily in Germany, the Netherlands, and Sweden is expected to propel demand over the forecast period

Key industry participants includeAlcatel-Lucent, AT&T Inc., General Motors, Google Inc, Apple, Audi AG, and Ford Motor Corporation.Notable and large-scale technology companies aim at collaborating with automobile manufacturers in order to reduce their cost of acquiring the automobile body to test their products